HNR Acquisition Corp Announces Change of Name to EON Resources Inc. and Change of NYSE Ticker Symbol to EONR; Trading under New Ticker Symbol Begins September 18, 2024
HNR Acquisition Corp (NYSE American:HNRA) has announced a significant corporate change. The company will rebrand as EON Resources Inc. and adopt the new ticker symbol EONR on the NYSE American Exchange, effective September 18, 2024. This transition marks HNRA's evolution from a Special Purpose Acquisition Company (SPAC) to an independent energy company focused on oil and gas production in the Permian Basin.
EON Resources aims to grow through acquisitions and development of onshore oil and natural gas properties in the United States. The company's current operations center on the Grayburg-Jackson Oil Field. CEO Dante V. Caravaggio emphasized the company's commitment to profitability and increasing shareholder value. The rebranding aligns with EON's strategy to establish itself as a key player in the energy sector.
HNR Acquisition Corp (NYSE American:HNRA) ha annunciato un significativo cambiamento aziendale. L'azienda cambierà nome in EON Resources Inc. e adotterà il nuovo simbolo azionario EONR sulla Borsa NYSE American, a partire dal 18 settembre 2024. Questa transizione segna l'evoluzione di HNRA da una Società per Obiettivi Speciali (SPAC) a una società energetica indipendente focalizzata sulla produzione di petrolio e gas nel Permian Basin.
EON Resources punta a crescere attraverso acquisizioni e allo sviluppo di proprietà di petrolio e gas naturale onshore negli Stati Uniti. Le operazioni attuali dell'azienda sono concentrate nel campo petrolifero Grayburg-Jackson. L'Amministratore Delegato Dante V. Caravaggio ha sottolineato l'impegno dell'azienda verso la redditività e l'aumento del valore per gli azionisti. Il cambio di nome è in linea con la strategia di EON di affermarsi come un attore chiave nel settore energetico.
HNR Acquisition Corp (NYSE American:HNRA) ha anunciado un cambio corporativo significativo. La empresa cambiará de nombre a EON Resources Inc. y adoptará el nuevo símbolo bursátil EONR en la Bolsa de Nueva York, a partir del 18 de septiembre de 2024. Esta transición marca la evolución de HNRA de una Compañía de Adquisición de Propósito Especial (SPAC) a una empresa energética independiente centrada en la producción de petróleo y gas en la Cuenca de Permian.
EON Resources busca crecer a través de adquisiciones y el desarrollo de propiedades de petróleo y gas natural en tierra en los Estados Unidos. Las operaciones actuales de la empresa se centran en el Campo Petrolero Grayburg-Jackson. El CEO Dante V. Caravaggio enfatizó el compromiso de la empresa con la rentabilidad y el aumento del valor para los accionistas. El cambio de marca se alinea con la estrategia de EON para establecerse como un jugador clave en el sector energético.
HNR Acquisition Corp (NYSE American:HNRA)는 중대한 기업 변화를 발표했습니다. 이 회사는 EON Resources Inc.로 브랜딩 변경을 하며 2024년 9월 18일부터 NYSE American 거래소에서 새로운 티커 기호 EONR을 사용할 예정입니다. 이 전환은 HNRA가 특수목적 인수회사(SPAC)에서 독립적인 에너지 회사로 발전하는 것을 의미합니다.
EON Resources는 미국 내 육상 석유 및 자연 가스 자산의 인수 및 개발을 통해 성장할 계획입니다. 회사의 현재 운영은 Grayburg-Jackson 석유전에서 이루어지고 있습니다. CEO인 Dante V. Caravaggio는 회사의 수익성과 주주 가치를 높이려는 노력을 강조했습니다. 브랜딩 변경은 EON이 에너지 분야의 주요 플레이어로 자리 잡기 위한 전략과 일치합니다.
HNR Acquisition Corp (NYSE American:HNRA) a annoncé un changement d'entreprise significatif. La société changera de nom pour devenir EON Resources Inc. et adoptera le nouveau symbole boursier EONR à la Bourse NYSE American, à compter du 18 septembre 2024. Cette transition marque l'évolution de HNRA d'une société d'acquisition à des fins spéciales (SPAC) vers une société énergétique indépendante axée sur la production de pétrole et de gaz dans le Permian Basin.
EON Resources vise à croître par le biais d'acquisitions et de développement de propriétés pétrolières et gazières terrestres aux États-Unis. Les opérations actuelles de la société se concentrent sur le champ pétrolifère Grayburg-Jackson. Le PDG Dante V. Caravaggio a souligné l'engagement de l'entreprise envers la rentabilité et l'augmentation de la valeur pour les actionnaires. Le changement de marque s'aligne avec la stratégie d'EON pour se positionner comme un acteur clé dans le secteur de l'énergie.
HNR Acquisition Corp (NYSE American:HNRA) hat einen bedeutenden Unternehmenswechsel bekannt gegeben. Das Unternehmen wird sich in EON Resources Inc. umbenennen und wird ab dem 18. September 2024 das neue Börsensymbol EONR an der NYSE American annehmen. Dieser Übergang markiert die Entwicklung von HNRA von einer Spezialzweckakquisitionsgesellschaft (SPAC) zu einem unabhängigen Energieunternehmen, das sich auf die Produktion von Öl und Gas im Permian Basin konzentriert.
EON Resources strebt ein Wachstum durch Übernahmen und die Entwicklung von Onshore-Öl- und Erdgasvorkommen in den Vereinigten Staaten an. Die aktuellen Operationen des Unternehmens konzentrieren sich auf das Grayburg-Jackson-Ölfeld. CEO Dante V. Caravaggio betonte das Engagement des Unternehmens für Rentabilität und die Steigerung des Aktionärswerts. Die Umbranding-Aktion stimmt mit EONs Strategie überein, sich als Schlüsselakteur im Energiesektor zu etablieren.
- Rebranding to EON Resources Inc. reflects transition from SPAC to operational energy company
- Focus on oil production in the profitable Permian Basin
- Growth strategy through acquisitions and development of onshore oil and gas properties
- Emphasis on profitability and increasing shareholder value
- None.
HOUSTON, TX / ACCESSWIRE / August 29, 2024 / HNR Acquisition Corp (NYSE American:HNRA) (the "Company" or "HNRA") announced today that the Board of Directors has approved changing the Company's corporate name to EON Resources Inc. ("EON" or the "Company").
HNRA will continue as EON as an independent energy company focused on Energy, Oil, Natural Resources, and other aspects of the Energy Industry. Our current focus is as an upstream energy company with producing oil and gas properties in the Permian Basin. Our plans are to grow through acquisition and through the development and enhancement of onshore oil and natural gas properties in the United States.
The effective date of the name change to EON will be September 18, 2024. The Company has reserved with the NYSE American Exchange the ticker symbol EONR for its Class A Common Stock and EONR WS for its publicly traded warrants. The CUSIP numbers for each will remain unchanged. The Class A Common Stock and warrants are expected to begin trading on the NYSE American Exchange under the Company's new name and trading symbols effective as of market open on September 18, 2024. No action is required by existing stockholders with respect to the name and ticker symbol changes.
The Company's new website URL address effective when the Company starts to trade under the new name and ticker symbols will be www.EON-R.com.
"The changing of our name to EON Resources Inc. signifies our prior conversion from a Special Purpose Acquisition Company (SPAC) to an operating company in November 2023. The Company is currently focused on oil production in the Grayburg-Jackson Oil Field of the Permian Basin" said Dante V. Caravaggio, CEO and President. "Our plans are to grow EON through acquisition and through the development and enhancement of onshore oil and natural gas properties in the United States. We will continue to emphasize profitability as well as increase value for our shareholders."
About the Oil Field Property
In November 2023, the Company acquired LH Operating, LLC ("LHO") including its holdings in New Mexico of oil and gas waterflood production comprising 13,700 contiguous leasehold acres, 342 producing wells and 207 injection wells situated on 20 federal and 3 state leases in the Grayburg-Jackson Oil Field. The Grayburg-Jackson Oil Field is located on the Northwest Shelf of the prolific Permian Basin in Eddy County, New Mexico.
Leasehold rights of LHO, now a wholly owned subsidiary of the Company, include the Seven Rivers, Queen, Grayburg and San Andres intervals that range from as shallow as 1,500 feet to 4,000 feet in depth. The December 2023 reserve report from our third-party engineer, William H. Cobb and Associates, Inc. ("Cobb"), reflects LHO to have proven reserves of approximately 15.4 million barrels of oil and 3.5 billion cubic feet of natural gas. The mapped original-oil-in-place ("OOIP") in the LHO leasehold is approximately 876 million barrels of oil in the Grayburg and San Andres intervals and 80 million barrels in the Seven Rivers interval for a total OOIP of approximately 956,000,000 barrels of oil.
Our primary production is currently from the Seven Rivers zone. In addition to proven reserves, the Company believes we may access an additional 34 million barrels of oil by adding perforations in the Grayburg and San Andres formations. With proven oil reserves of over 15 million barrels, combined with the potential 34 million additional barrels from the Grayburg and San Andres zones, LHO should produce oil and a revenue stream for more than two decades with a slow decline rate.
About HNR Acquisition Corp
HNRA is an independent upstream energy company focused on maximizing total returns to its shareholders through the development of onshore oil and natural gas properties in the United States. HNRA's long-term goal is to maximize total shareholder value from a diversified portfolio of long-life oil and natural gas properties built through acquisition and through selective development, production enhancement, and other exploitation efforts on its oil and natural gas properties.
HNRA's Class A Common Stock trades on the NYSE American (NYSE American:HNRA) and our public warrants trade on the NYSE American (NYSE American: HNRAW). For more information on HNRA, please visit the Company's website: https://www.hnra-nyse.com/
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," "may," "might," "plan," "possible," "should" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company's management's current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Important factors - including the availability of funds, the results of financing efforts and the risks relating to our business - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on EDGAR (see www.edgar-online.com) and with the Securities and Exchange Commission (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations
Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
mike@plrinvest.com
SOURCE: HNR Acquisition Corp
View the original press release on accesswire.com
FAQ
When will HNR Acquisition Corp (HNRA) change its name to EON Resources Inc.?
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